Egypt, Tunisia, and the Failure of Neoclassical Economic Theory

‘The regime changes in Egypt and Tunisia have been hailed as victories for democracy, as proof of the liberalizing power of social networking media, as testimony to the power of nonviolent political action. All of that they may indeed be; but the events in Egypt and Tunisia also illustrate a major defect in our economic thinking, one from which we should draw a very different and much more cautionary conclusion.’ Read the full article here.